Pictured from left to right: Ross Hadfield Founder of WeKo, Nic Blair Founder of Midnight Health, Maree Knight Director of Projects at Mater, and Samantha Prime Director at Clinical Excellence QLD
Two major health innovation events held at The Precinct in Brisbane this month have put the spotlight on Queensland’s fast-growing healthtech and medtech ecosystem – signalling national attention and growing investor interest.
The first event, HealthTech & MedTech Innovations in QLD, hosted by The Precinct, brought together founders, clinicians, researchers and investors to discuss the pathway from research to commercialisation.
Just days later, Sydney based Cicada Innovations hosted its Cicada x Tech23 showcase, highlighting deep tech breakthroughs from across Australia including Convergence Medical, a medical device company led by CEO Chris Jeffery that has recently secured $5M from global investors.
“These events aren’t just about networking – they’re about putting a stake in the ground to say Queensland is a serious player in health innovation and we were excited to highlight the incredible innovation found here” said Holly Hudson, Program Manager at The Precinct.
Industry on the Rise
According to the 2024 Australian Startup Funding Report, healthtech was one of the top-performing sectors nationally, attracting around $473 million in private investment with Queensland contributing a growing slice of that figure. Locally, the personalised and preventative healthcare sector employs more than 400,000 people across 40,000 businesses – many of them small to medium-sized startups.
Queensland is also home to six world-class health and biomedical precincts, and 97 biotechnology, health, and medical research institutes and facilities – making it one of Australia’s most concentrated health innovation corridors.
Backed by Big Players
Backing this growth are initiatives like the Queensland Venture Capital Development Fund (VCDF), managed by QIC, which is investing in early-stage venture capital funds with the goal of increasing Queensland-based deal flow. Meanwhile, partnerships like the one between LX Health and QIC are designed to help local startups become investment-ready and connect with early-stage capital.
Key Themes from The Precinct
Across panel sessions and keynotes, speakers tackled the complex journey of launching medical devices in a heavily regulated industry – from achieving clinical validation to navigating TGA approvals.
“There’s no shortcut to building a safe and effective healthtech product, but Queensland has the right infrastructure, talent, and support to get there,” said Dr Mia McLanders from the Queensland Innovation Living Lab (QuILL).
A spotlight was also placed on QuILL’s role as a crucial testing ground for medtech startups, providing access to the clinical environments, equipment, and expertise needed to validate new products and services.
Founders were reminded that beyond technical performance, human-centric design must remain at the forefront – ensuring devices are built with the end-user’s experience and safety in mind.
What’s Next
With consistent funding, strong infrastructure, and growing national recognition, Queensland’s healthtech sector is set for sustained growth. The Precinct remains committed to being a hub for health innovation – a place where talent, research, and entrepreneurship can connect and collaborate
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The Precinct is an initiative supported by the Queensland Government.
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The Precinct acknowledges Aboriginal and Torres Strait Islanders as the First Nation custodians of the lands where we work, learn and connect. We pay respects to their Elders, Lores, Customs, and Creation Spirits and recognise Aboriginal and Torres Strait Islander people as Australia’s first innovators, entrepreneurs and scientists